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Germany supports World Bank reforms ahead of spring meetings

FILE PHOTO: Buildings from IMF headquarters are seen during 2013 Spring Meeting of the International Monetary Fund and World Bank in Washington

BERLIN (Reuters) - Germany supports the World Bank modifying its country-based business model and is in favour of the Bank setting incentives for issues like climate protection, the German Development Ministry said on Thursday.

On Monday, Reuters reported that the World Bank was seeking to vastly expand its lending capacity to address climate change and other global crises and will negotiate with shareholders ahead of April meetings on proposals that include a capital increase and new lending tools.

Germany, the Bank's fourth largest shareholder, has been actively campaigning at for fundamental changes at the World Bank and have proposed concrete reform steps with other countries at the Bank's annual meeting last year, a spokesperson for the ministry told Reuters.

World Bank President David Malpass took up many of these demands which are now presented at a "Evolution Roadmap" draft of the Bank, the spokesperson said, adding that the Bank's supervisory board will discuss further steps in spring.

Germany is also addressing the financing of development banks in the light of an increased focus on global challenges that will require additional resources, but it is important to first design the institutional and operational reforms at the Bank, the ministry added.

(Reporting by Riham Alkousaa; Editing by Nick Zieminski)